I found the answer to this issue elsewhere: unplug your network cable/turn off your airport so the computer is not connected to the network. Connect phone/ipod. You're able to click the podcasts tab w/o issue.
Once I did that and had it work once I was able to reconnect my network cable and clicking the podcast tab no longer froze.
I had been having that problem too. I disconnected my iPhone, disconected the network, then was able to download new podcasts and move them around, but when I reconected the network and iPhone, it would still freeze every time I clidked the Podcast tab. All the other tabs were fine. I sure didn't want to go through this everytime I updated my podcast.
Then I read your post and it just so happens Apple released the new update (iTunes 11.0.4)
I just updated my software and it finally worked.
Thanks for the info.